Sany Group’s $200 Million Loan Said to Attract Ten Banks
Stock Chart for Sany Heavy Industry Co Ltd (600031)
Sany Group Co., the owner of China’s biggest machinery maker, got commitments from 10 banks for its $200 million-equivalent three-year loan, according to a person familiar with the matter.
Bank Sinopac, Chinatrust Commercial Bank and Tai Fung Bank Ltd. committed $17 million each, while Cathay United Bank Co. pledged $15 million and Nanyang Commercial Bank Ltd. provided HK$132.6 million ($17 million), the person said, asking not to be identified because the details are private.
HSBC Holdings Plc, the loan’s arranger and bookrunner, committed $25 million, the person said. Bank of Taiwan, Hang Seng Bank Ltd., Shanghai Pudong Development Bank and Taiwan Business Bank each pledged $23 million, the person said.
The loan is being borrowed by a unit of Sany Group and guaranteed by Sany Heavy Industry Co. (600031), the person said.
To contact the editor responsible for this story: Shelley Smith at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.